Which statement best describes physical custody in grant property management?

Which statement best describes physical custody in grant property management?

• A. Having legal title to property.
• B. Being responsible for possession and safekeeping of property physically.
• C. Generating financial reports.
• D. Approving grant expenditures.

Answer: (B)

Physical custody means who actually holds the tangible property, where it is stored, and how it is kept safe. The person with physical custody is responsible for possession and safekeeping of the property itself, ensuring it is protected from loss, damage, or improper access. This is about the tangible item in hand, not about who owns it or who approves how money is spent. Tasks like generating financial reports or approving grant expenditures belong to financial management or administrative actions, not to the act of physically holding or safeguarding the asset.

Physical custody means who actually holds the tangible property, where it is stored, and how it is kept safe. The person with physical custody is responsible for possession and safekeeping of the property itself, ensuring it is protected from loss, damage, or improper access. This is about the tangible item in hand, not about who owns it or who approves how money is spent. Tasks like generating financial reports or approving grant expenditures belong to financial management or administrative actions, not to the act of physically holding or safeguarding the asset.